Business · 14 May 2026

Honda loses ¥423bn, cuts EV targets

Honda's electric vehicle investments have not paid off, causing the Japanese carmaker its first annual loss in 70 years. The company reported a ¥423bn operating loss for the year ending March 2026, and is now scrapping several EV production targets. Chief executive Toshihiro Mibe confirmed aims for EVs to make up a fifth of new car sales by 2030 are now gone.

By BriefTea Editorial · 14 May 2026 at 17:35

Reported by BBC · How we write briefs

Get the app

More briefs

BusinessEngland's free bus pass age will rise to 67 by April 2028 BusinessBritish tourist visits to Japan up 40.8% since 2019 TechnologyGoogle paying £260m to settle UK Play Store developer lawsuit BusinessSnack makers warn new UK rules could undo years of reformulation work BusinessHouseholds can fix energy bills now to save £173 BusinessEasyJet passengers stranded in Milan after flight cancellation More business stories → Browse all stories →